$0.36 Earnings Per Share Expected for Terex Corporation (TEX) This Quarter
Equities research analysts predict that Terex Corporation (NYSE:TEX) will post earnings per share of $0.36 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Terex Corporation’s earnings, with estimates ranging from $0.31 to $0.40. Terex Corporation posted earnings of $0.19 per share in the same quarter last year, which would indicate a positive year over year growth rate of 89.5%. The firm is expected to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Terex Corporation will report full year earnings of $1.15 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts anticipate that the business will post earnings of $1.94 per share, with EPS estimates ranging from $1.55 to $2.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Terex Corporation.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share.
A number of equities analysts have weighed in on TEX shares. BidaskClub raised Terex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) downgraded Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Thursday, June 15th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 price target (up previously from $38.50) on shares of Terex Corporation in a research report on Monday, June 19th. Credit Suisse Group set a $45.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, July 13th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.50.
Shares of Terex Corporation (NYSE:TEX) traded up 0.59% during trading on Friday, reaching $45.70. 1,682,739 shares of the company traded hands. The stock’s 50 day moving average price is $41.48 and its 200-day moving average price is $36.59. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $45.81. The stock’s market cap is $4.09 billion.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Monday, August 7th. Terex Corporation’s payout ratio is presently -50.79%.
Terex Corporation announced that its board has approved a stock repurchase plan on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, SVP Kevin Bradley sold 3,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $38.23, for a total value of $114,690.00. Following the sale, the senior vice president now owns 48,612 shares in the company, valued at approximately $1,858,436.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kieran Hegarty sold 15,115 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $43.23, for a total value of $653,421.45. The disclosure for this sale can be found here. In the last three months, insiders bought 3,800 shares of company stock valued at $144,646 and sold 104,679 shares valued at $4,213,400. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TEX. US Bancorp DE raised its stake in Terex Corporation by 9.3% in the 1st quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 510 shares during the period. UBS Asset Management Americas Inc. raised its stake in Terex Corporation by 14.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 94,264 shares of the industrial products company’s stock valued at $2,960,000 after acquiring an additional 12,131 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Terex Corporation by 13.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 1,014 shares during the period. M&T Bank Corp raised its stake in Terex Corporation by 1.5% in the 1st quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 130 shares during the period. Finally, Prudential Financial Inc. raised its stake in Terex Corporation by 72.4% in the 1st quarter. Prudential Financial Inc. now owns 105,822 shares of the industrial products company’s stock valued at $3,323,000 after acquiring an additional 44,450 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.
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Terex Corporation Company Profile
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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